BMW is in talks with labor representatives and its top providers as it looks forward to achieving cost savings of over 12 billion euros ($13.26 bln) by 2022, Chief Financial Officer Nicolas Peter informed analysts on Wednesday. “We are currently discussing more measures with the Works Council. All parties are working very constructively to make […]
Nicolas Peter
BMW expects currency, tariff and raw material headwinds in next year
BMW expects headwinds from increasing currency and commodities costs to reach a mid to high triple-digit million euro amount in next year, Chief Financial Officer Nicolas Peter stated on Monday. BMW still intends to reach an operating margin in the automotive segment of between 8 percent and 10 percent, Peter informed analysts at a presentation […]
BMW expects trade war to hit 2019 results by up to half a billion euros
BMW expects a hit to revenues of up to half a billion euros ($579 million) in 2019 if tariffs between the United States and China stay in place, Chief Financial Officer Nicolas Peter informed Automobilwoche magazine. Tariffs between the United States and China have struck exports of sport-utility vehicles from its U.S. plant in Spartanburg, […]
BMW positive about favorable outcome to NAFTA talks
BMW is positive about Washington’s drive to renegotiate the North American Free Trade Agreement (NAFTA) will lead to a deal that benefits the German automaker, it stated on Monday. “BMW is supporting free trade on an international basis. The U.S. are our 2nd home. We will continue to invest substantial amounts of cash in this […]
BMW to increase its spending on R&D in 2018
German automaker BMW will raise its spending more on research and development next year, to 6.5 to 7 percent of sales, finance chief Nicolas Peter informed Handelsblatt. “That is a lot of money, in absolute numbers it’s around 7 billion euros ($8.3 bln), which is almost as much as we spent in 2011 and 2012 […]
Investments weigh on BMW revenue as it aim to regain industry lead
Increasing costs for new models and technology will weigh on revenues at BMW for the rest of the year, it stated on Tuesday, as the German automaker fights to regain ground lost to competing Mercedes-Benz. BMW, the leading seller of luxury cars for years, was surpassed by Mercedes last year, and its 3rd quarter operating […]
BMW investigation into cartel allegations requires more time
BMW has hired a law firm to assist with an internal investigation of a supposed cartel among German automakers and requires more time before any conclusions can be drawn, CEO Harald Krueger stated. “Of course we will keep investigating this,” Krueger stated on Tuesday. “This is going to take a while.” BMW, Daimler and Volkswagen […]
BMW to balance out high research and development costs through 2019
BMW will simplify its manufacturing procedure, providing less variations of engines and equipment, to balance out high research and development (R&D) costs through 2019, the German automaker’s financing chief Nicolas Peter stated on Wednesday. Automaker is developing electric, autonomous and connected cars along with the vehicles with combustion engines to meet more rigid emissions tests. […]
BMW to increase R&D spend to manage CO2, e-mobility
BMW anticipates its research and development budget, when determined as a portion of sales, to increase in 2018, its CFO informed a German paper. “Decreasing CO2 emissions, electrifying engines and autonomous driving are the major challenges for our market over the next years,” the automaker’s Chief Financial Officer Nicolas Peter informed Boersen-Zeitung in an interview […]
